Page 6 - Reserve Bank

Economy likely to expand by around RBI's projection of 8% in Q1, FY24

Various analysts that Business Standard spoke to put GDP growth in the range of 7 to 8.5 per cent for Q1 of FY24

RBI MPC: Repo rate decision by Governor Das today; here's what to expect

RBI policy meet: The meeting started on Tuesday and will end with RBI governor Shaktikanta Das announcing the rates in the policy announcement on Thursday

M&M takes stake in RBL Bank: What are RBI rules on ownership in pvt banks?

RBI has outlined that banks are 'special' entities as they not only accept and deploy a substantial amount of uncollateralised public funds in a fiduciary capacity but also lend this money

77% of Rs 2,000 notes returned by users to banks as of June 30: FinMin

The number of Rs 2,000 notes in circulation fell to 418 million in volume terms on June 30, from 1.77 billion on May 19, the ministry said

Bank of India plans share sale to meet Sebi's minimum public holding norms

State-owned Bank of India is exploring the possibility of share sale to investors over the next one year to meet the minimum public holding requirement of 25 per cent. Currently, Government of India holds 81.41 per cent stake in the Mumbai-based bank. "We are exploring options to meet Sebi's minimum public holding requirement. However, the decision to sell shares would depend on market conditions," Bank of India Managing Director Rajneesh Karnatak told PTI. Public sector banks have time till August 2024 for meeting the Securities and Exchange Board of India (Sebi) requirement, he said. Post share-sale, depending on the quantum, the holding of Government of India would come down below 75 per cent. With regard to the bank's growth, he said, credit growth is expected to be 11-12 per cent during current financial year helped by retail, MSME and agriculture loans. As far as the deposit is concerned, he said, "we hope to grow the liability side by 10 per cent during current financial

RBI MPC: When and where to watch policy announcement by Shaktikanta Das

RBI monetary policy: In April, the MPC had decided to pause the repo rate hike for the first time since May 2022

Centre directs banks to ensure nominees for all accounts and lockers

A bank official said that both the government and the RBI have stated that money should not be accumulated in the depositor education and awareness fund

Rs 500 note tightens hold as most circulated currency, show RBI data

The number of counterfeit notes in the Indian banking system marginally declined in 2022-23 compared with the previous financial year

Domestic financial markets remained orderly in 2022-23: RBI report

Reserve Bank of India (RBI) has said that in 2022-23 the domestic financial market movements remained orderly, notwithstanding persisting impact of global spillovers during the year

A note on India's commemorative coins, what's in demand and how to buy

India has issued more than 150 sets of commemorative coins since 1964 that are sold by govt mints; the Rs 75 coin is the latest

Day 2 of Rs 2,000 note exchange has banks running out of cash for exchange

Some banks had to temporarily halt exchanges of Rs 2,000 currency notes as they waited for supply of currency notes to be replenished

War on inflation not over, we have to remain alert: RBI Guv Shaktikanta Das

Das said that India's GDP growth rate in FY23 may come out to be more than earlier predictions of 7%

Rs 2,000 note withdrawn from circulation, to remain legal tender

The RBI has advised banks to stop issuing Rs 2,000 denomination banknotes with immediate effect

Housing prices increase sharply in Q1CY23, see an average 7% YoY jump

A report by PropTiger.com said that all the markets covered in the analysis showed an upward movement in average rates of new homes

Govt considers bringing municipal bodies under TSA for effective funds use

The Reserve Bank of India also raised the issue in its latest report on municipal finances, citing significant data gaps and missing entries

Fintech companies in talks to decide on rules for self-regulation

The RBI proposed the creation of a self-regulatory organisation (SRO) in March during a conference hosted by the Department of Payment and Settlement Systems

Govt invites application for RBI deputy governor post; M K Jain to retire

The finance ministry has initiated the process to appoint a new Reserve Bank deputy governor in place of MK Jain, whose extended term is coming to an end in June. The applicant should have an experience of 15 years in banking and financial market operations, said a public notice, indicating that candidates from the private sector will also be considered for the appointment. Traditionally, one of the four deputy governors is from the public sector banking industry. If the government decides to appoint someone from the private sector, it would be a first for the Reserve Bank of India. Jain, a senior public sector banker, was appointed deputy governor for an initial period of three years in 2018 and extended by another two years in 2021. The central bank has four deputy governors - two from within the ranks and one commercial banker and an economist to head the monetary policy department. "It may be noted that the Financial Sector Regulatory Appointments Search Committee (FSRASC) is

RBI Monetary Policy: Repo rate up by 25 bps, FY23 inflation pegged at 6.5%

RBI MPC: Shaktikanta Das said that the repo rate hike of 25 bps is considered appropriate at this juncture but the monetary policy will remain agile to inflation

Reserve Bank widely seen delivering final 25 bps hike, say economists

Annual retail inflation edged down in December from the previous month and remained within the central bank's comfort zone 2%-6% range for a second consecutive month

Credit growth of scheduled commercial banks tapers off in December

Banks extended loans of almost Rs 1.5 trillion during the fortnight ended December 30